IEPPE Exam Dumps : Internationally Educated Professional Practice Exam

Anethical theoryprovides astructured framework for making consistent and logical ethical decisions.

Step-by-Step Explanation:

Definition of Ethical Theories:

Ethical theorieshelp professionals determine the right course of action in difficult situations.

They ensureconsistency in decision-makingacross different scenarios.

Common Ethical Theories Used in Engineering & Technology:

Utilitarianism– Thegreatest good for the greatest number(e.g., prioritizing public safety).

Deontology– Followingethical rules and duties, regardless of the outcome.

Virtue Ethics– Acting withhonesty, integrity, and responsibility.

Example in Professional Practice:

A technologist mustreport a defective producteven if it harms their employer’s reputation.

Ethical theorieshelp justify this decisionby prioritizingpublic safety and professional integrity.

Why Option D Is Correct:

Ethical theoriesprovide a logical frameworkto align beliefs and actions.

Why Other Options Are Incorrect:

A (Connecting statements)– Ethical theoriesgo beyond linking concepts; theyguide real-world decisions.

B (Relating ethics to reality)– Ethical theories arenot just practical tools; they arestructured principles.

C (Defining concepts)– Ethical theories do more thandefine ethics; theyguide behavior.

Apartnershipis theeasiest and lowest-cost wayfor two or more people to start a business together.

Step-by-Step Explanation:

What Is a Partnership?

A businessowned by two or more people.

Lower setup coststhan a corporation.

Profits and lossesare sharedbetween partners.

Why a Partnership Works for Brown & Green:

Theyshare expertise and investment.

Less paperwork and fewer legal requirementsthan a corporation.

Since they plan toretire in 10 years, a partnership offersflexibility without long-term obligations.

Why Option C Is Correct:

Requires minimal startup capital.

Simple to set up and dissolve.

Why Other Options Are Incorrect:

A (Corporation)– More complex,higher startup costs, and strict regulations.

B (Sole Proprietorship)–Only one owner allowed.

D (Joint Venture)– Used forshort-term projects, not long-term businesses.

When raising money,lenders require financial securitybefore approving loans. Bothcorporations and partnershipscan borrow money, but acorporation has more financing options.

Step-by-Step Explanation:

Why Business Structure Affects Loan Approval:

Banksassess riskbefore lending money.

New businesses lack credit history, so banks requirepersonal guaranteesfromowners.

Acorporation has more flexibilitysince it canissue shares or bondsto raise money.

Key Considerations for Business Loans:

Partnerships and Corporations can borrow, but banks maydemand a personal guaranteefrom the owners.

Corporations can secure funding through investors, reducing reliance on loans.

Ajoint venture is temporaryand not ideal for long-term financing.

Why Option D Is Correct:

Both corporations and partnerships can raise money, butbanks often require a personal guarantee.

Corporations have additional financing options (e.g., issuing shares).

Why Other Options Are Incorrect:

A (Joint Venture)–Not designed for long-term borrowing.

B (Corporation without personal guarantee)–Banks usually require a guarantee for new businesses.

C (Partnership without personal guarantee)–Incorrect, as partners are personally liable for debts.